If You Were Asked to Distinguish Between a Service and a Good

question 7

Multiple Choice

If you were asked to distinguish between a service and a good, you could correctly say

• A) the customer's opinions are valued in the production of goods, but not in the deliverance of services.
• B) that collaboration between buyer and seller is highest for goods.
• C) a greater number of brands are available for services than brands available for goods.
• D) the buyer owns the good after its purchase, but leaves with an experience after a service transaction.

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Definitions:

Organization Chart

A visual representation of the hierarchical structure of an organization, showing relationships between different positions and departments.

Delegation of Authority

The process by which authority is distributed to lower levels of management within an organization to make decisions and complete tasks.

Stockholders

Individuals or entities that own shares in a corporation, giving them ownership interests and typically rights to dividends and a vote in corporate matters.

Privately Held

A company ownership structure where shares are not available to the public and are owned by a relatively small number of shareholders.